SQUID Cryptocurrency Launch Attracts Millions From Fans Of Squid Games

Story By: James KingSub-EditorMarija Stojkoska, Agency: Newsflash

The hit series ‘Squid Games’ now has its own brand of cryptocurrency apparently for no other reason than the fact of the publicity associated with its name.

The coins known as SQUIDs are currently trading at over USD 2, which is a more than 2,000 percent increase in just 24 hours, giving it a market capitalisation of USD 174 million (GBP 126 million).

It does not seem to have deterred people that CoinMarketCap has warned that there are numerous reports of buyers being unable to sell the coins on the decentralised exchange Pancakeswap.

Squid Game is a South Korean drama series released worldwide by Netflix on 17th September 2021. (Newsflash)

There appears to have been an anti-dumping technology included in the cryptocurrency that stops the coins from being sold unless certain conditions are met, and when contacted, the developers have so far declined to comment.

The coin only went on presale on 20th October with the people behind the cryptocurrency claiming it was sold out in “1 second”.

In its online publicity, the games’ organisers explained in dubious English: “The Squid Game project is a crypto play to earn platform inspired by the Korean hit series on Netflix about a deadly tournament of children’s games.

The director Hwang Dong Hyuk, revealed that people have sent money to the bank account shown in the last episode of the South Korean drama series Squid Game. (Netflix/Newsflash)

“There is no longer dystopian world where a mysterious organisation gathers people who are in large amounts of debt and ‘living on the edge’.

“Rather than 456 players drawn from different walks of life but each deeply in debt chosen intentionally by the organizers in the drama, everyone here in crypto world can participate in the Squid Game with SQUID token or related NFTs in our marketplace.

“Compared to USD 38.5 million bonus for the last winner, we crypto Squid Game will not limit the maximum of the final bonus as well as the numbers of participates. The more people join, the larger reward pool will be.

The director Hwang Dong Hyuk, (pictured) revealed that people have sent money to the bank account shown in the last episode of the South Korean drama series Squid Game. (@hwangdonghyukdirector/Newsflash)

“More importantly, we do not provide deadly consequences apparently! Your experience will only reflect on the joy of winning rewards and sorrow of losing money when the game failed.”

The cryptocurrency has been launched amid a spate of malware and other scams using the name to take advantage of fans.